Weakening demand seen for gold jewellery

In the first quarter of 2022, jewellery demand in Malaysia rose by 23% year-on-year to over three tonnes despite higher gold prices.

GEORGE TOWN: The value of gold jewellery exports from Malaysia is projected to decline by 15% to 20% this year as the first five months of export data showed signs of weakening overseas purchases.

According to Malaysia External Trade Development Corp, the country exported RM2.29bil worth of gold jewellery products from January to May, which was slightly more than the RM2.24bil registered for the same period a year ago.